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According to an index created by CNN and AG Moody’s Analytics, called the “Back-to-Normal" Index, Florida’s overall economy has completely recovered from the pandemic and is one of only two in the country to be stronger today than prior to the pandemic. Florida’s economy is at 101% of where it was in February of 2020.
In other news, a hearing in the state’s lawsuit against the CDC’s “No Sail” order will be held today. U.S. District Judge Steven Merryday, of Tampa, will preside. AG Ashley Moody filed a preliminary response to the court yesterday citing coercion by the CDC over the cruise industry. Moody said, " Cruise companies are trying their best to work with the CDC because they have no choice. But make no mistake — the CDC continues its overreach, and Florida’s irreparable harm increases by the day".
Moving on, Miramar-based Spirit Airlines has announced a large South Florida expansion. Spirit, which currently hubs out of Fort Lauderdale, will add flights to 30 cities out of Miami International starting in October.
Finally, Governor DeSantis signed property insurance reform into law. Effective July 1st, citizens' annual premium increases will be capped at 15%, contractors will be banned from advertising to homeowners who’ve yet to file an insurance claim for the purpose of doing so. Insurance adjusters won’t be able to offer homeowners incentives for inspections. Attorney fees will go from a flat rate to a percentage paid on only the amount of a judgment above what an insurance company offered to a homeowner. Reduces the time one may file a property insurance claim from three to two years. These measures are aimed at curbing the rapid increase in property insurance rates in Florida.